The BOSS (Bringing Out Successful Sisters) Network and Sage established the Invest in Progress Grant in 2022 to help Black women overcome obstacles in business. This online community recognized that although Black women are the fastest growing group of entrepreneurs, they receive very little investment funding. To remedy this, BOSS awarded $350,000 in grants in that first year.
In 2023, they expect to award twenty-five $10,000 grants along with monthly membership for one year through BOSS Business University, marketing assistance, and general guidance. Applications are due by 6:00 PM ET on February 24th* through Hello Alice.
*The BOSS Network reserves the right to shorten or extend the application period for any reason.
Eligibility
Applicant
The BOSS Network describes their ideal applicant as, “a Black, woman-identifying founder in the first five years of your entrepreneurial journey.” She should also be purpose-driven, committed, and unwilling to let anything stand in her way. She must be:
- Black
- Woman-identifying
- A legal resident of the United States, including the District of Columbia and Puerto Rico
- At least 18 years of age (19 in Alabama and Nebraska)
- Lead executive of a qualifying small business
- Willing to participate in a monthly virtual mentorship program
Business
Qualifying businesses must be:
- For profit
- Registered in the United States, including the District of Columbia and Puerto Rico
- Have at least one Black, woman-identifying founder
- Be less than five years old
- Have a documented need for funds
Evaluation
All applicants will be evaluated based on:
- Founder experience and commitment (30%)
- Product/market fit and plans for growth (40%)
- Need and feasibility of plan for use of funds (30%)
Preference will be given to existing BOSS Network members, LGBTQ+ identifying applicants, applicants with disabilities, and those connected to the military.
Stipulations
- Applicants may be asked to submit additional materials and/or participate in a brief interview.
- Grantees are required to attend monthly workshops, quarterly trainings, and other events during the grant year.
